Insider Buying: Millrose Properties (NYSE:MRP) Director Acquires $86,400.00 in Stock

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson acquired 3,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $28.80 per share, for a total transaction of $86,400.00. Following the acquisition, the director owned 38,750 shares of the company’s stock, valued at approximately $1,116,000. This trade represents a 8.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Millrose Properties Price Performance

MRP stock opened at $29.74 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a 50 day moving average price of $28.93 and a 200-day moving average price of $29.27. Millrose Properties, Inc. has a 52-week low of $26.30 and a 52-week high of $36.00. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 10.36 and a beta of 0.39.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The company had revenue of $196.85 million for the quarter. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 annualized dividend and a dividend yield of 10.4%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s payout ratio is presently 107.32%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MRP. Weiss Ratings upgraded shares of Millrose Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Millrose Properties currently has an average rating of “Buy” and an average price target of $37.67.

Institutional Trading of Millrose Properties

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after purchasing an additional 2,960,066 shares during the last quarter. State Street Corp raised its stake in Millrose Properties by 23.0% during the 4th quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after buying an additional 950,421 shares during the last quarter. Permian Investment Partners LP lifted its holdings in shares of Millrose Properties by 116.4% during the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock valued at $113,336,000 after buying an additional 2,040,900 shares during the period. Cannell & Spears LLC lifted its holdings in shares of Millrose Properties by 1.4% during the 1st quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock valued at $102,723,000 after buying an additional 49,702 shares during the period. Finally, Norges Bank purchased a new position in shares of Millrose Properties in the 4th quarter worth $101,800,000.

About Millrose Properties

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm’s core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.